Because we are overwhelmed with day-to-day store operations, we often find ourselves selling products at a loss. Most of the times we only realise this during monthly reconciliation or when we start making loss! This not not a recommended way to run an online store. Here’s a quick way to fix it.
1. Install the Konigle app in your Shopify store.
2. From your dashboard, navigate to Bulk Price Editor.
3. Click on More filters and under the Magic filters, select Variants selling at loss and press Apply filters as shown below
4. This will filter the product variants that are selling below the cost. For this to work, you must have set the cost of each variant.
5. In the Configure prices section, select the options such that your variants will have X% margin. For example, the selected options in the below picture set the selling price such that the profit margin is 35%
6. Enter your reprice description and validity dates. Leaving the Valid to date means prices will not revert.
7. Click Submit.
8. You can check the progress of the request under the History tab.